Toga Limited loses sham SEC registration
The Toga Limited Ponzi scheme has lost its sham SEC registration. As part of efforts to dupe investors in Asia, Toga Limited heavily touted its SEC registration in its marketing.
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AirBit Club’s Renato Rodriguez sentenced to 12 years prison
AirBit Club co-founder Pablo Renato Rodriguez, 40, has been sentenced to 12 years in prison. On the money side of things, forfeiture was set at $65 million as per a previously consented to order back in March.
SAEG Ponzi scheme & Ted Safranko cop $3.8 mill judgment
The CFTC has secured default judgment against SAEG Capital General Management and Fredirick Safranko. Following Entry of Defaults recorded against both SAEG and Safranko, default judgment was ordered on September 5th.
Binance sued for freezing Nimbus Platform Ponzi funds
Kirill Medvedev has filed suit against Binance for allegedly freezing funds tied to the Nimbus Platform Ponzi scheme.
DOJ seeks 46 to 57 months in prison for Michael Glaspie
A September 21st sentencing guideline has recommended Michael Glaspie be sentenced to 46 to 57 months in prison (3.8 to 4.7 years). Joint restitution of $54.6 million has also been tabled.
OnPassive diverts payments to Dubai after SEC lawsuit
Following an SEC lawsuit alleging $108 million in fraud, OnPassive appears to be diverting payments to Dubai. OnPassive affiliates report US banks are flagging the transactions as fraudulent.
CFTC’s iComTech case stayed pending criminal case outcome
On September 7th the DOJ moved to stay proceedings in the CFTC’s civil iComTech case. The request was granted on September 8th.
Success by Health FTC fraud judgment tops $7.3 million
Success by Health as a corporate entity has been ordered to pay $7.3 million dollars in penalties. The September 18th judgment follows an earlier May 2023 judgment, which saw Jay Noland have to pay the same amount for violating the 2002 NetForce injunction.
OneCoin’s Mark Scott denied motion for new trial
Following his conviction in November 2019, OneCoin money launderer Mark Scott filed for an acquittal or new trial in February 2020. With a decision on that motion pending, new information regarding Konstantin Ignatov perjuring himself saw Scott file a supplemental motion for a new trial in August 2021. (Scott) argued that, had the jury known [Continue reading…]
FutureNet’s Stephan Morgenstern re-arrested in Albania
Last October FutureNet Ponzi co-founder Stephan Morgenstern was arrested in Greece. South Korean authorities had obtained an international arrest warrant, pertaining to Morgenstern defrauding consumers through FutureNet. Despite Morgenstern being charged with stealing over $30 million, Greek authorities thought it’d be a good idea to release him pending extradition. Morgenstern promptly fled to neighboring Albania, [Continue reading…]
